Swiss National Bank Lowers Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Swiss National Bank lowered its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,396 shares of the company’s stock after selling 9,000 shares during the period. Swiss National Bank’s holdings in Arcus Biosciences were worth $1,822,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its position in shares of Arcus Biosciences by 183.4% in the 3rd quarter. Barclays PLC now owns 470,776 shares of the company’s stock worth $8,451,000 after buying an additional 304,683 shares during the period. FMR LLC increased its stake in Arcus Biosciences by 4.9% during the third quarter. FMR LLC now owns 4,780,052 shares of the company’s stock worth $85,802,000 after acquiring an additional 222,280 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Arcus Biosciences in the 3rd quarter worth about $1,412,000. Vanguard Group Inc. lifted its stake in shares of Arcus Biosciences by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,493,818 shares of the company’s stock valued at $80,664,000 after purchasing an additional 61,040 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Arcus Biosciences during the 4th quarter worth about $903,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Insider Buying and Selling

In other Arcus Biosciences news, COO Jennifer Jarrett sold 11,551 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.55, for a total transaction of $202,720.05. Following the completion of the sale, the chief operating officer now owns 215,253 shares in the company, valued at approximately $3,777,690.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Arcus Biosciences news, COO Jennifer Jarrett sold 11,551 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.55, for a total transaction of $202,720.05. Following the transaction, the chief operating officer now directly owns 215,253 shares in the company, valued at approximately $3,777,690.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Juan C. Jaen sold 3,900 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.06, for a total transaction of $78,234.00. Following the transaction, the president now directly owns 1,211,365 shares of the company’s stock, valued at $24,299,981.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,455 shares of company stock worth $1,014,779. 12.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Mizuho cut their price target on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. Wedbush reissued an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a research note on Thursday, May 9th. Finally, Truist Financial reaffirmed a “buy” rating and set a $50.00 price target on shares of Arcus Biosciences in a research report on Monday, March 25th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Arcus Biosciences Trading Down 1.0 %

NYSE RCUS opened at $16.12 on Friday. The stock has a market cap of $1.47 billion, a P/E ratio of -5.18 and a beta of 0.91. The company’s fifty day simple moving average is $16.55 and its 200-day simple moving average is $16.68. Arcus Biosciences, Inc. has a 52 week low of $12.95 and a 52 week high of $25.47.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.92. The firm had revenue of $145.00 million for the quarter, compared to analyst estimates of $28.77 million. Arcus Biosciences had a negative net margin of 97.47% and a negative return on equity of 40.98%. The firm’s revenue was up 480.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.09) EPS. On average, research analysts expect that Arcus Biosciences, Inc. will post -3.02 EPS for the current fiscal year.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.